Sripetch v. SEC · ¶21

We begin with two statutory provisions, §§ 78u(d)(5) and 78u(d)(7). Enacted in 2002, § 78u(d)(5) allows the SEC to obtain “any equitable relief that may be appropriate or necessary for the benefit of investors.” Liu held this provision permits a court to order disgorgement so long as the remedy adheres to traditional equitable principles. 591 U. S., at 85. After Liu, Congress adopted § 78u(d)(7), which expressly allows the Commission to seek disgorgement in enforcement proceedings.

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